Motor insurance is operated on a tariff platform, meaning from rating, terms and conditions of cover, and how motor insurance is being sold, handled and distributed….. they are within the FRAMEWORK or better said, “IN A BOX”
What is passenger liability cover in your private vehicle insurance policy? It simply means coverage for you in the event your passenger(s) sue you or your authorised driver for having driven the car negligently, resulting in bodily injury, death or property damage. Passenger liability is therefore also known as legal liability to passengers. Simple...
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The date, 1st July 2010 will mark another day for a major change to a long established Motor insurance practice…. this time is about the manner the No Claims Discount (or NCD) is to be confirmed. We expect some rough moments ahead as we viewed this new confirmation procedure as being haphazardly handled…. but...
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Whenever I met up with agents nowadays, they never failed to complain over decisions that were adopted by the industry recently. Of course, mandatory direct rebate and refusal to write third party cover were some of those but very recently, the agents, especially those writing substantial portfolio of commercial “A” vehicles are again upset over their clients having lost out on NCD...
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It is mind boggling with the tariff section relevant to TRAILERS. It is very difficult for the Insured to ensure that the insurer insuring their prime mover (“Vehicle”) and the trailer attaching to it must be the same. What if the Insured is required to change insurer on renewal in the circumstances that the...
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This may or may not be good news for all…. When ISM-NCD system was implemented in 2007, the operating framework was nothing but on a parallel run; one leg with IT platform and the other leg with the usual manual related options. After having ran for almost two years, ISM-NCD which ought to be...
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I read your blogs with written topics concerning the readiness of our agency force with interest. We can refresh with the following blog materials: How agents are preparing for mandatory motor rebate The growing pains of direct rebating Having been around the industry for quite awhile I find it absolute true that our agency...
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According to the Malaysian Motor Tariff section 6 (Commercial tariff), trailers may not be insured separately. But no one seems to know exactly what this phrase, “…may not be insured separately.” Is this to do with trailer and prime-mover must not be insured with different insurer? Or Is it about an insurer cannot issue...
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